Additonal information:1 New plant assets costing 320,000 were purchased for cash during the year.2. Old plant assets having an orginal cost of 184,000 and accumulated depreciation of 155,200 were sold for 4800 cash.3. Bonds payable matured and were paid off at fac value for cash.4. A cash dividend of 83296 was declared and paid during the year.5. Common stock was issued at par for cash.6. There were no significant noncash transactions.Prepare a statement of cash flows using the indirect method.( Show amounts decreased by using -sign or parenthesis) Condensed financial data of Pronghorn Inc. follow.AssetsCashAccounts receivableInventoryPrepaid expensesLong-term investmentsPlant assetsPronghorn Inc.Comparative Balance SheetsDecember 31Accumulated depreciationTotalLiabilities and Stockholders' EquityAccounts payableAccrued expenses payableBonds payableCommon stock2025$ 258,560280,960360,00090,88083,200441,600348,800912,000776,000(160,000)(166,400)$2,184,000 $1,647,200$ 326,40052,800352,0002024704,000$ 154,880121,600329,120$215,36067,200467,200560,000 Accrued expenses payableBonds payableCommon stockRetained earningsTotalSales revenueLess:Net income1.52,800Additional information:67,200467,200560,000337,440$2,184,000 $1,647,200352,000704,000748,800Pronghorn Inc.Income Statement DataFor the Year Ended December 31, 2025Cost of goods soldOperating expenses, excluding depreciationDepreciation expenseIncome tax expenseInterest expenseLoss on disposal of plant assets$433,47239,712148,80087,29615,13624,000$1,243,072748,416$494,656New plant assets costing $320,000 were purchased for cash during the year.CHACC00

Name: Additonal information:1 New plant assets costing 320,000 were purchase
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Description: Additonal information:1 New plant assets costing 320,000 were purchased for cash during the year.2. Old plant assets having an orginal cost of 184,000 and accumulated depreciation of 155,200 were sold for 4800 cash.3. Bonds payable matured and were p

The cash flow statement is prepared to record the cash flow from various activities during the…

Business

Accounting

Additonal information: 1 New plant assets costing 320,000 were purchased for cash during the year. 2. Old plant assets having an orginal cost of 184,000 and accumulated depreciation of 155,200 were sold for 4800 cash. 3. Bonds payable matured and were paid off at fac value for cash. 4. A cash dividend of 83296 was declared and paid during the year. 5. Common stock was issued at par for cash. 6. There were no significant noncash transactions. Prepare a statement of cash flows using the indirect method.( Show amounts decreased by using -sign or parenthesis)

Additonal information: 1 New plant assets costing 320,000 were purchased for cash during the year. 2. Old plant assets having an orginal cost of 184,000 and accumulated depreciation of 155,200 were sold for 4800 cash. 3. Bonds payable matured and were paid off at fac value for cash. 4. A cash dividend of 83296 was declared and paid during the year. 5. Common stock was issued at par for cash. 6. There were no significant noncash transactions. Prepare a statement of cash flows using the indirect method.( Show amounts decreased by using -sign or parenthesis)

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter24: Analysis Of Financial Statements

Section: Chapter Questions

Problem 5CE

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Assets Current assets: Cash Marketable securities Accounts receivable (net) Inventory Total current assets Investments Plant and equipment Less: Accumulated depreciation Net plant and equipment Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Notes payable Accrued taxes Total current liabilities Long-term liabilities: Bonds payable Total liabilities Stockholders' equity Preferred stock, $ 50 par value Common stock, $ 1 par value Capital paid in excess of par Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 611,000 272,000 $ 52,500 22,500 178,000 290,000 $ 543,000 66,200 339,000 $948,200 $ 95,100 78,700 12,000 $ 185,800 159,400 $ 345,200 $ 100,000 80,000 190,000 233,000 $ 603,000 $948,200
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